Penny Wong (SA, Australian Labor Party, Minister for Finance and Deregulation) Share this | Hansard source

The Treasurer has provided the following answer to the honourable senator's question:

(1) The Government is aware of such efforts by some countries.

(2) No. The Government is undertaking a domestic pilot of the Extractive Industries Transparency Initiative. Consideration of alternative rules will be considered after the completion of the pilot.

(3) Refer to response to Question 2.

(4) No.

(5) A Multi Stakeholder Group has been formed to oversee the pilot process, which is chaired and supported by the Department of Resources, Energy and Tourism. The MSG will deliver a report to the Government outlining the outcomes of the pilot upon completion.

(6) The Government will consider the various approaches to transparency in the extractives sector upon completion of the domestic pilot of the EITI.

(7) The Australian Government is not in a position to comment on legislative approaches taken in the US, as it is a matter for their Government.